Leading Electric Vehicle Charging Service Provider Intends to Purchase Blink’s More Than 12,000 EV Charging Stations and Operating System
Blink Acquisition, a wholly-owned subsidiary of Car Charging Group, Inc. (OTCQB: CCGI) (“CarCharging”), a nationwide provider of convenient electric vehicle (EV) charging services, announced today that it has successfully won the bid to purchase the Blink related assets of ECOtality, a clean electric transportation and storage technology firm.
The assets included in the transaction are all of Blink’s inventory, the more than 12,450 installed electric vehicle Level II charging stations, the 110 DC Fast charging stations, and the Blink network, which is the turnkey operating system for EV drivers, commercial businesses, and utilities, that services the Blink stations.
“Since our inception, CarCharging’s intent has been to grow our business organically and through acquisitions, and with the purchase of ECOtality’s Blink assets, we believe that it will solidify our position as the leader in the electric vehicle charging industry,” stated CarCharging’s Chief Executive Officer, Michael D. Farkas.
The deal does not include Minit-Charger, which manufactures and distributes fast-charging systems for material handling and airport ground support vehicles; or ETEC LABS, ECOtality’s research and testing resource for governments, automotive OEMs and utilities. The transaction is anticipated to close shortly.